I am a first time home buyer approved for a conventional mortgage. I am interested in a property that was listed on the market at $225k in January, removed in March, and relisted at $219k in May. It has been sitting since then.
I went through the property and identified the following concerns:
- outside walkway to the front door is a hazard and needs reparied
- outside vinyl has algae staining and needs power washed
- The boiler looks original, and as it is a 1950's house- will likely need replaced ASAP
- hardwood flooring in the living room needs to be refinished
- outside fencing needs power washed
- firebox in the fireplace is rusted out
- backyard needs serious work- overgrown with a water feature that is not cared for.
- the house is filthy and needs to be professionally cleaned and painted
The current owner has lost his job and needs to downsize- but I get the sense he is very ornery and it is clear he doesn't WANT to move. He also has a clause in his listing about closing being contingent on him finding another home to live in, which he currently does not have.
Since I have never been through this before, I wasn't sure exactly what to offer or what is fair. I ended up with the following offer:
- $6000 in earnest money
- 90 day's to find a suitable home
- no seller assistance
- I requested professional cleaning, painting of the downstairs and neutral color and a credit towards a boiler.
I expect a counter, but I'm hoping my offer doesn't get thrown out the window. Any insight would be greatly appreciated!!
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